The Trotters have lost 15 of their 21 league games so far this season, conceding 46 goals in the process.
Todd, however, has backed the Lancashire outfit to survive what looks to be a long campaign for Coyle's side.
"I was at Bolton when Owen Coyle was a player and his enthusiasm is tremendous but this is a new crisis, it is a little bit of a crisis, but in management you have to deal with it. Whatever is thrown at you, you have to deal with it in the best possible way," Todd told talkSPORT.
"The players are behind him which is another good thing. It's a new experience for him but I'm keeping my fingers crossed that he will come through and the club will survive."
Bolton continue their league campaign against Liverpool next Saturday.